How can a company stay relevant amid rapid changes?

One can’t win all the time in the business world. There are plenty of companies that faded away because they could not keep up with the changes.

The last time I shared some advice from David Rowan, former editor-in-chief of WIRED magazine’s UK edition. Let’s talk some more about the tips he has offered.

One is to empower your talent. Google X is a perfect example. In 2010, the tech giant set up a secret research and development facility to allow its employees to cook up whatever crazy ideas they have. The self-driving car company Waymo was born there, and it now has a market valuation of nearly US$100 billion.

The spirit of innovation is the key for companies to stay competitive in today’s world. Companies should encourage employees to step out of their comfort zone in order to test ideas and introduce innovations.

Another one is to follow the data. The rapid growth of Facebook, Google and China’s e-commerce giants shows that whoever has the data conquers the world.

Data has become the basis for every industry. Conventional marketing and financial models will be become outdated very soon. Many governments and companies have already taken action to take advantage of the trend.

David Rowan also reminds entrepreneurs to find their “blind spot”. Many people just don’t know their blind spots. I found this to be quite true during my conversations with young people.

Frankly speaking, many young and outstanding entrepreneurs are surprisingly stubborn. They draw conclusions without thorough market research. This could lead to failure.

The last point is to cross the line. Rowan encourages companies to step into different areas and trigger collisions. Co-location across different disciplines can help unleash the company’s full potential. This approach is way better than for a company to shut the door and work on its own.

New Zealand will ban military-style semi-automatic and assault rifles under tough new gun laws, Prime Minister Jacinda Ardern announced on Thursday, following the mass shootings last week in two Christchurch mosques that killed 50 people....

China’s Huawei Technologies is making it very difficult for European carriers to drop the company from its supply chain for next-generation 5G wireless service, AT&T CEO Randall Stephenson said on Wednesday. “If you have...

East Africa is markedly different now from ten years ago if we look at how widespread “grass-munching” has become. “Grass-munching” refers to the consumption of khat or Catha edulis, or the derogatory term “East African...

Citigroup plans to sell several tons of gold placed as collateral by Venezuela’s central bank on a US$1.6 billion loan after the deadline for repurchasing them expired this month, Reuters reports, citing sources. The...

The National People’s Congress, China’s parliament, last week passed a new Foreign Investment Law (FIL). Premier Li Keqiang said on Friday that the new law “will better protect the legitimate rights and interests of...

US President Donald Trump warned on Wednesday that Washington may leave tariffs on Chinese goods for a “substantial period” to ensure that Beijing complies with any trade agreement, Reuters reports. Trump said his top...

US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin plan to travel to China next week for another round of trade talks with Chinese Vice Premier Liu He, Reuters reports, citing an unidentified...

The entire world was shocked by the mass shootings at two mosques in Christchurch, New Zealand, last Friday that killed 50 and left dozens injured. As Jacinda Ardern, the country’s prime minister, put it,...